Narendra Modi, Prime Minister Prime Minister Modi underscored that...
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With near-monopoly on rare earth magnets, China decides fate of global EV industry
China holds a near-monopoly on rare earth magnets – a crucial...
India needs a strong and responsive disaster financing architecture as a cornerstone of resilience: Indian PM’s advisor
PK Mishra, Principal Secretary to the Prime Minister had addressed...
Ukraine weighs possibility of insuring ships going via ‘grain corridor’ – Interfax-Ukraine
Ukraine is considering the possibility of insuring ships going through the “grain corridor,” news agency Interfax-Ukraine reported on Thursday, citing Prime Minister Denys Shmyhal. “Now we are discussing in the government and, I am sure, we will make a decision on...
Europeans lack insurance protection as wildfires and drought batter the region
When it comes to disaster response, the ECB sees insurers as the first line of financial defense, backed up by reinsurers and the financial markets with instruments like catastrophe bonds. The global market for catastrophe bonds, which give insurers a payout when a...
Ratings firms struggle with climate risk in $133 trillion market
As the world reels from the mounting impact of heat waves, droughts and fiercer storms, there is growing concern that credit rating analysts are misreading climate risks in the $133 trillion global bond market, to the detriment of creditors and borrowers alike For...
France’s AFP sues Musk’s X social media, cites refusal to discuss payment for news
France in 2019 enacted a copyright rule dubbed “neighboring rights” that compels large online platforms to open talks with publishers seeking remuneration for news.“Agence France-Presse has expressed its concerns over the clear refusal from Twitter (recently rebranded...
Beijing records heaviest rainfall in at least 140 years, causing severe flooding and 21 deaths
The severity of the flooding took the Chinese capital by surprise. Beijing usually has dry summers but had a stretch of record-breaking heat this year China`s capital has recorded its heaviest rainfall in at least 140 years over the past few days. The city recorded...
Insurance ‘AAA’s unaffected by U.S. downgrade, financial conditions key risk: Fitch
Ratings for these U.S. insurers and the broader sector could face pressure if U.S. fiscal and governance deterioration contributes to a negative scenario of heightened capital market volatility and/or a more severe economic downturn The 'AAA' Insurer Financial...
1 in 5 companies in Vietnam are prepared against major risks: WTW survey
“What our study has shown is an urgent need to bridge the protection gap in risk impact and its financial implications, and consequentially, to enhance risk preparedness across organisations. This is especially important for a market like Vietnam, one of the most...
Container vessel runs aground in Hooghly river safely refloated later
The incident, which took place at around 11.30 am, had caused concerns as the vessel was carrying 338 containers from Port Kelang in Malaysia, bound for Netaji Subhash Dock under Kolkata Dock System Kolkata: The 140-metre-long container vessel, MTT Singapore, which...
EU companies get new ESG rules aimed at addressing climate risks
Companies will have to disclose whether they have climate transition plans and also report relevant social factors, including human rights violations, as part of the larger plan to highlight the investment risks and opportunities presented by ESG factors Companies...
Aircraft lessors set for June 2024 trial over Russia insurance claims
Lessors are suing dozens of insurers around the world for billions of dollars after more than 400 planes were unable to leave Russia due to Western sanctions in response to Moscow’s invasion of Ukraine that forced the termination of their leases Some of the world’s...